China: Prepared Binders Market 2024

Prepared Binders Market Size in China

In 2021, the Chinese prepared binders market decreased by -1.8% to $X for the first time since 2011, thus ending a nine-year rising trend. Over the period under review, consumption, however, enjoyed prominent growth. Prepared binders consumption peaked at $X in 2020, and then shrank slightly in the following year.

Prepared Binders Production in China

In value terms, prepared binders production contracted slightly to $X in 2021 estimated in export price. Overall, production, however, enjoyed strong growth. The growth pace was the most rapid in 2016 with an increase of 45% against the previous year. Prepared binders production peaked at $X in 2018; afterwards, it flattened through to 2021.

Prepared Binders Exports

Exports from China

In 2021, overseas shipments of prepared binders for foundry moulds or cores were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, total exports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 69% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, prepared binders exports surged to $X in 2021. Over the period under review, total exports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X tons), India (X tons) and Russia (X tons) were the main destinations of prepared binders exports from China, with a combined 57% share of total exports. These countries were followed by Indonesia, Taiwan (Chinese), Thailand, Vietnam, Pakistan, Ukraine, Malaysia, Iran, Egypt and the United Arab Emirates, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +46.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), India ($X) and Russia ($X) constituted the largest markets for prepared binders exported from China worldwide, together comprising 61% of total exports. These countries were followed by Iran, Indonesia, Taiwan (Chinese), Thailand, Vietnam, Malaysia, Egypt, Ukraine, Pakistan and the United Arab Emirates, which together accounted for a further 30%.

Among the main countries of destination, Taiwan (Chinese), with a CAGR of +41.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average prepared binders export price stood at $X per ton in 2021, with an increase of 26% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Iran ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Binders Imports

Imports into China

In 2021, the amount of prepared binders for foundry moulds or cores imported into China surged to X tons, rising by 22% on 2020. In general, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +65.7% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 85%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, prepared binders imports rose modestly to $X in 2021. Overall, total imports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +90.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 86%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of prepared binders to China, with a 68% share of total imports. Moreover, prepared binders imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. The third position in this ranking was held by the UK (X tons), with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.2% per year) and the UK (+35.5% per year).

In value terms, Germany ($X) constituted the largest supplier of prepared binders for foundry moulds or cores to China, comprising 64% of total imports. The second position in the ranking was held by the UK ($X), with a 14% share of total imports. It was followed by the United States, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+11.9% per year) and the United States (-12.5% per year).

Import Prices by Country

In 2021, the average prepared binders import price amounted to $X per ton, reducing by -16.1% against the previous year. Overall, the import price saw a pronounced descent. The growth pace was the most rapid in 2020 when the average import price increased by 37% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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